The positive news for CEE is that compared with 2008, CEE is not in the eye of the storm. That said, macro trends in CEE remain heavily correlated with those in the developed world,in particular EMU, and some pass-through is inevitable. As a result UniCredit have marked down their forecasts for growth in the region for both this year and next by 0.4pp and 0.6pp to 4.1% and 3.3% respectively. For 2013 they forecast GDP at 4.2%, 1.7pp belows its pre-crisis long term average.
Members of the Chamber of Commerce can download the 66 page forecast report covering 17 countries by clicking on the picture.